Stockmann - Company Announcement

Stockmann's strategy process moves forward

Helsinki, Finland, 2014-10-02 08:00 CEST (GLOBE NEWSWIRE) -- STOCKMANN plc,
Company Announcement 2.10.2014 at 9:00 EET 

Stockmann is carrying out a process of reviewing and revising the Group's
strategy. A new operating structure under three divisions - Stockmann Retail,
Real Estate and Fashion Chains - will be introduced as of 1 January 2015. In
Stockmann Retail the focus will increasingly be on the Stockmann department
stores and stockmann.com online store which has grown rapidly in the Finnish
market. The Real Estate division will aim at optimising the use of floor space
in the Group's real estate holdings. In the Fashion Chains division the company
believes that Lindex, which has operations in 16 countries, has the biggest
development potential. 

As part of the strategy process, Stockmann is looking for strategic options for
its other retail operations, Hobby Hall and Seppälä. A new owner is being
sought for the Hobby Hall distance retail business. Hobby Hall's annual revenue
is approximately EUR 100 million and it has over 0.5 million loyal customers in
Finland. As for Seppälä, the Board of Directors has decided that Seppälä's
remaining 16 stores in Russia will be gradually closed during the rest of 2014
and during 2015. 

New Board of Directors for Lindex

Lindex's goal is to be a truly global fashion brand and to expand successfully
on international markets. To support the company's strategy, the extraordinary
shareholders' meeting elected an operational Board of Directors for AB Lindex.
In the new Board, three members will represent Stockmann and two members are
independent of the company and its significant shareholders. One additional,
independent Board member is expected to be elected later during the year. The
Board previously consisted of members of the Stockmann Group's management. 

The new chairman of the Board is Per Sjödell, a member of the Stockmann Board
of Directors and Managing Director of Fiskars Sweden. Stockmann's CFO Pekka
Vähähyyppä, and Board Member and Chief Strategy Officer Kjell Sundström are
also representing Stockmann in the Board. 

Tracy Stone and Rossana Mariano have been elected to the Board of Directors and
they bring extensive experience in the fashion and retail industries, and
international expansion. Tracy Stone, born 1962, UK citizen, works as Global
Sales Director at GANT. Prior to her current position, she worked as Managing
Director of GANT UK, Head of Beauty at House of Fraser, Sales and Retail
Director at SpaceNK, and Retail Operations Manager at Selfridges. Rossana
Mariano, born 1962, Swedish citizen, is the CEO and founder of RMPR, a leading
Swedish lifestyle PR agency. She has wide knowledge of fashion and media
industries with experience from Damernas Värld magazine, H&M, Nordiska
Kompaniet (NK) and consulting clients such as Louis Vuitton, Canada Goose,
Gudrun Sjödén, and L'Occitane. 

Caroline Kull Magnusson and Ann-Britt Neckvall, with Clary Erenmalm as their
deputy, continue as employee representatives in the Board of Directors. 

Strategy process to continue until end of 2014

The new Stockmann Group strategy will be approved by the end of the year. The
process of appointing a new CEO is proceeding according to plan, in line with
the strategy work. 

Further information:
Kaj-Gustaf Bergh, Chairman of the Board of Directors, tel. +358 40 524 7730

www.stockmanngroup.com


STOCKMANN plc

Nora Malin
Director, Corporate Communications


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